Financial Planning

D-Day for pensioners is approaching
Expert Advice
With important new deeming rules coming into effect on 1 January 2015, now is the time to review your superannuation and pension arrangements to ensure you don't miss out on valuable Social Security entitlements. Account based pensions have generally been given favourable treatment when Social Security assesses your eligibility for benefits such as the Age Pension and the Disability Support...
Voluntary redundancies for government employees
Expert Advice
When an offer on voluntary redundancy (VR) is made to an employee, it can raise several questions and considerations. It is recommended that an offer is not accepted without careful consideration of the financial and emotional impacts of a VR. Some considerations are outlined below. Firstly, look at the offer in segments. The actual redundancy is a calculation made on...
Salary sacrifice to superannuation
Expert Advice
Salary sacrifice is where a portion of your income is paid to your superannuation fund rather than to yourself directly. Contributions made to superannuation through salary sacrificing are paid from your "before-tax dollars" and is a strategy that can be used to reduce your taxable income. Making regular contributions can be an effective way to reduce your income tax and...
Changes to superannuation for the new financial year
August 2014 Issue 96
The new financial year brings in some changes to superannuation that everyone should be aware of. Superannuation guarantee For the 2014/15 year this has been increased from 9.25% to 9.5%. Both employers and employees should ensure this increase is being complied with. Concessional contributions Concessional contributions are those which are taxed at 15% upon entry into the fund. They encompass...